Barings LLC Sells 7,800 Shares of Tribune (TRCO)

Barings LLC decreased its stake in shares of Tribune (NYSE:TRCO) by 41.5% in the third quarter, Holdings Channel reports. The institutional investor owned 11,000 shares of the company’s stock after selling 7,800 shares during the quarter. Barings LLC’s holdings in Tribune were worth $423,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in shares of Tribune by 813.2% in the 1st quarter. Royal Bank of Canada now owns 2,977 shares of the company’s stock worth $121,000 after purchasing an additional 2,651 shares in the last quarter. NumerixS Investment Technologies Inc increased its holdings in shares of Tribune by 170.1% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,782 shares of the company’s stock worth $144,000 after purchasing an additional 2,382 shares in the last quarter. NJ State Employees Deferred Compensation Plan bought a new stake in shares of Tribune in the 2nd quarter worth $230,000. Sei Investments Co. grew its holdings in shares of Tribune by 42.0% in the first quarter. Sei Investments Co. now owns 5,786 shares of the company’s stock worth $235,000 after acquiring an additional 1,712 shares during the period. Finally, Sphinx Trading LP bought a new stake in shares of Tribune in the second quarter worth $249,000. Institutional investors and hedge funds own 93.73% of the company’s stock.

Several analysts recently commented on the company. ValuEngine lowered Tribune from a “hold” rating to a “sell” rating in a report on Thursday. Zacks Investment Research lowered Tribune from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 16th. Evercore ISI assumed coverage on Tribune in a report on Tuesday, July 31st. They issued a “buy” rating and a $40.00 price objective for the company. Stephens lowered Tribune from an “overweight” rating to an “equal” rating and cut their price objective for the stock from $41.00 to $37.00 in a report on Thursday, July 19th. Finally, Wells Fargo & Co cut their price objective on Tribune from $42.00 to $36.00 and set a “market perform” rating for the company in a report on Wednesday, July 18th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $40.20.

Shares of TRCO opened at $38.45 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.24 and a quick ratio of 3.24. Tribune has a one year low of $31.61 and a one year high of $43.71. The firm has a market capitalization of $3.37 billion, a P/E ratio of 14.68 and a beta of 1.06.

Tribune (NYSE:TRCO) last issued its quarterly earnings data on Thursday, August 9th. The company reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.40. Tribune had a return on equity of 7.18% and a net margin of 28.61%. The company had revenue of $489.36 million during the quarter, compared to analyst estimates of $483.10 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. Tribune’s revenue was up 4.2% compared to the same quarter last year. Equities research analysts predict that Tribune will post 3.1 EPS for the current fiscal year.

Tribune Profile

Tribune Media Company, through its subsidiaries, operates as a media and entertainment company in the United States. It offers news, entertainment, and sports programming through Tribune Broadcasting local television stations, including FOX television affiliates, CW Network, LLC television affiliates, CBS television affiliates, ABC television affiliates, MY television affiliates, NBC television affiliates, and independent television stations; and television series and movies on WGN America, a national general entertainment cable network.

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Institutional Ownership by Quarter for Tribune (NYSE:TRCO)

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